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<br /> • • , � 5. Hazerd or 8ro�ertq tngu_�n�. Borrower shall licq;the improv now e�ushns or hereaftet e�on the ��� . ";:'�;;:���
<br /> ^ • ` • . Pcoperty insured against loss by frre.hardrds inciuded within the tcrm"extendrel co�erage"and any athec ha�uds, inclading � — —
<br /> ' .:G��:.
<br />� �:'` � �. f�oods or flnoding,for wirich I.endei requ;res ic�uranoe. 'I7�is insurartce shal!be maintainsd in the amounts�nd for the periacts =�=t�__�-,`r='-
<br /> � ' • ` that Lender �res.The insurance carrt�r rovidin the insurance shall be chosen b �Bnrrower sub'eet to Lendet s a mval ` {t"'`�= -=
<br /> -- �N P S Y J PP � >._ _�,
<br /> : • — whic2�shall not h�e uiueasonably withheid.If Borrawer fails co m�main wveragc described above, Lender nay,at i..er�er's � t��.� � __
<br /> � option.obtain coverage to protect Lender's rights in the Properiy in accofdance with paragaph 7. � � �'�,, ' _
<br /> • - A ll insurance o licies a n d ren e w a ls s h a l i be ta b le to L e n der az t d s h a l l inc tu de a stan d a r d mort a e c l a u s's. L en der �:���'���'�.�" �
<br /> .. P �P � 8 r „�-n�..-_
<br /> . 5 shall have the right to hold the policies and rienewals.If Lender requires,Borrower shall promptly give to Lender all receipts of ���""� -
<br /> paid premiums and renewa!aotices. In the event of ioss.Bortawer shall gi�e prompE notice to the insuiance carrier and I.ender. ;,, �r_�._�_
<br /> _ • .:f��. ' Lender may make praof of toss if not made prompdy by Bortawer. ' • ���--�---
<br /> '� • .• � • Untess Lender and Borrower otheiwise agree in writing,insaranre Qrot�ceds shall be applied i�restoraiion or repair of the --- `
<br /> • Property damaged,if the re,storadon or repair is econoraical�y feasible and Lender's security is not tesstned.[f the restnration ot • �_"~-�=�-
<br /> . ' � . �� repair is not economicalIy feasible or Lender's security would be lessened,ehe insurance proceeds shail be applied to the sums �°--
<br /> ��_- -
<br /> . � secured by this Sea�rity (nsuument, whether or nat then due, arith any excess paid to Borrower. If 8orrower•aba�ilons�the �-•�._--
<br />: �� • . Properry,or,does not answer within 30 days a notlee fro��n Lender Nat the iASUrance carrier has offered to setile a claim.then -
<br /> ' � Lender may collect the insurance proceeds. Leader may use the pmceeds to tepair or restore the Property or to pay sums __
<br /> �'� `, ' secured b this Securi Insuuruent,whether or not then dae.The 30-da nod n+i116 a when the notice is ven. �
<br /> � � � ' r �+ y� ' � s �
<br /> ' Onless Lender and Borrower otherwise agrec in wridng, any application of pmceeds to principal sfaall aot extend or -�--'a'`""` �^
<br /> ., , —
<br /> : _
<br /> ... --
<br /> �`' • •� -•--•° `• o one the dae date aF the ma a .,errts rcferred to in ara hs 1 and 2 or chan e the amount of the a___ents If -
<br /> . �: _ :_ _ . .. _ _ . .. .P � _ ._ ..- �--- ..... ... T�Y R Yrt! P.. S�P. . . _ . �.... ....._ ... . .P 3+m-�--'----�- -------�---
<br /> � , ' � nnder paragtaph 2t the Property is acquired by Lender.Borrower s right to any insurance policies a�d praceeds resuiting fram � -----
<br /> ' e w Hze Pro e nor to the a msiuon shal! to Lender to the extent of the sums secvred 6 this Securi Instrament �:�--'-- -
<br /> . _ �g D rtY P � �4 � P� Y tY i �.�_
<br /> .�. � ; :{'.r ., immediatefy prior ta the acquisition. . '
<br /> . �; �+ � �. 6.�cCUp�aQCy,Preservation,Maintenaace aend Protecttan oi ttte Property;Borrower's duan Appl�catton;I.easeholds. ���`�---�
<br /> _r ., .,
<br /> � Bomnwer shall ocxupy;establish.and use-the Property as Borrower's principal residence within sixty=days after the execvtion of '` �
<br /> .. � �. ttris Secvrity Insuument and sha11 maa�ue to occupy the Property as Barrower's principai residence for at least one year after � ' ri =
<br /> ' , , ' ' ths date of occu unless Lendsr edzenvise a ' - "���`��
<br /> Pancy, grces in writing.which consent shall noi 6e unreasonably withheld, or untess . • .,-��' _,::.
<br /> .. 4�-.� extem�ating cireumstarte�s exist which are:beyort� Borrower's control. Borrower shall not destroy. d��nage or impair the '�`���
<br /> ,• � • ,.� �- Property.altow the Pm�rty to deterlarate, or ecrrmit waste on the Pcoperty_ Borro�ver shalt be in def3¢!t if airy fotfeiturc •
<br /> � . . • action or prooeeding,wLtc�er civil or criminal.is��un that in l.ender's gaod.faith judgment crould resu!e i.�forfeiture of the
<br /> � . ' Property or athenxise materially i�ir the lien created by this S.,cluity Insnument or Lender's security inierest.Borro�ar may �
<br /> care sudi a default and reinstate,as pravided in paragraph 18,L^r�using the aciion or proceeding to be dismissedµitii a miing " �•�'_
<br /> � � • . that. in Lender's good faith detetr�.ir:ation, preclades forfeiture of the Borrower s interest in the Property or ot�-tttaterial � .
<br /> • ' '` . . . • impairrr�ent of the lien created by this Security Instrument or Lender's security inteiest. Borrotiver shall a!so 6e in default if '`'�' ,.�. � �.
<br /> , . ' . ,:;,; Borrower,during the loan application process,gave materially false or inaccura(e infom�ation or statements to I.ender(or fuiled -. �
<br />• , � .,�:�;;.:: '• to provide Lender with any materiat information)in connetdon with the loan evidenced by the Note.including,I'f111 ROt IILII1tCd ;;i �
<br /> : � ' �`��. to,sepresentations conceming Borrower's accupancy of the Property as a principal residence.�[f this Sewrity Instrument is on a �� '
<br /> . �
<br />. � . � leasehold. Borrower shall comply with all the provisions of the lease. If Bonower acquires fee title to the Properry. the
<br /> � . � leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. ' � � . ����"'�
<br />-=,;.� : � 7.Prutertton of Lender's Rights in the Property.If Borrower fails to perform the covenanu and ags�ements contained in �'� L� '�"�:
<br /> ''''�� . � this SeaurI Instrutnent or there is a le al oceedin ihat ma si nificantl n 's ' � . � � _ �«
<br /> . . . tY • S Pr 8 Y S Y��t Le der nghts in the Property(such as a •..; � -�_
<br />,_ , praceeding in bankruptcy,probate. for wndemnation or forfeitare or to enforce taws or�ulations),then I.ender may da and �• •�,�� "�'��
<br /> . � ' pay for w�hatever is necessary to protect the value of the Pra�ert}r and Lender's rights in t[re Property. I.ender's aaians may -� �-s�°
<br /> � inclade paying any sums secured by a lien which has priority over this �ecurity [nstrument. a�pearing in court. paying . '.� � -"
<br /> •. � � ' , reasonah�e attomeys'fees and entering on the Properry to make repairs. Although Lender may take action urider this paragraph � � �"
<br /> � � ' 7.Lcrtder does not have ta do so. � '��.��� . �,:,��
<br /> � My amounts disbursed by I.ender under this parngraph 7 shall become additional debi of Borrower secured by this �;:<<;,�•. r:. -�
<br /> � ..,:. • �-
<br /> �� :�� �t� � Security lnstrument. Unless Borrow�ec and Lender agree to other terma of payment.these amounts shall bear inierest from the � �'r�:� • w''
<br /> =- date of disbursemenc at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting � � .. r=��
<br /> ::`.+�s:. . . . .. pay�ent. • . .
<br /> ' � , •. .� �.1ltortgage insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Security ' . ° j�
<br />:� �• � ,. � [nstrument. Borrower shall pay the �rremiums required to maintain the mortgage insurance in effect. (f, for any reasan. the �
<br /> � y:
<br /> mongage insutance coverage required 6�y Lcnder Iapses or ccases to be in effcxt.Borrower shall pay the premiums required to � o.�
<br /> •� • obtain coverage su6stantialty equivalent to the mortgage insurance previousty in eifect.at a cost substantially equivatent to the • ' F:
<br /> ;� ' , rnst to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. lf �. .
<br /> � :. �� , . substantially equivalent mor2gage insurance coverage is not available.Boaower shall pay to Lender each month a sum equal to =.
<br /> :-�� ._ ` one-hvelftb ofr the yearly mortgage ins�rance premium 6eing paid by Bono�ver when the insurance ooverage lap.sed ur ceased to . �
<br /> _;,� �, � {,� be in effect.Lender will accepi.ase and c^tain these payments as a[oss reserve in lieu of mortgage insurance. Loss reserve . �"`
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